March cotton futures have no daily limits during the delivery period, and they closed 4.09 cents weaker. May contracts were limited by the 4 cent allotted move, and the other front month cotton futures fell back 288 to 396 points. The weekly Export Sales data release showed 247,813 RBs sold on the week ending 2/18. That was more than double last week and up 5% yr/yr. New crop bookings were reported at 40,726 RBs bringing the total forward book to 1.156m RBs. USDA’s Daily Spot Quotations report showed 3,541 bales sold via the 2/25 report. USDA maintained the -4.89 cent basis but noted the average price was down to 84.8 cents. The Cotlook A index for 2/24 was 97.6 cents/lb, up another quarter cent. The week’s AWP for cotton is 73.13 cents/lb, but will be updated this afternoon. ICE certified stocks are still at 100,326 bales through 2/23.
| Mar 21 Cotton closed at 88.24, down 409 points, |
| May 21 Cotton closed at 89.69, down 400 points |
| Jul 21 Cotton closed at 90.37, down 396 points |
| Dec 21 Cotton closed at 84.78, down 288 points |
--- provided by Brugler Marketing & Management
